Housing Rental Market - Rent Rises on the Horizon?

The outlook for the future is more rent rises. As landlords start to feel the pinch on mortgage costs (currently some lenders are apparently looking at only offering repayment only mortgages, not interest only) and the effect of inflation, higher taxes etc comes through, they will start increasing their rents and as more tenants flood onto the market as fewer people buy property, they will start to increase rents as much as possible.

Having predicted that rents will rise this year, this is certainly coming through in areas such as London and the South East where rental prices are pushing upwards of 10%. However, it is important to put this rise into context though, as it only means prices are heading back towards the heights of the Summer 2008, prior to lots of accidental landlords flooding the market and reducing rents throughout most of 2009.

• If you are a tenant: rent something this side of Xmas if you can!
• If you are a landlord: look at putting up your rent if you can to protect your income.

READ MORE For the complete Rental Market Update and the Headline Statistics

and

Rental Market Regional Statistics for September

If you are renting a property in the UK for the first time, or thinking about renting your own home to tenants, contact property expert Kate Faulkner and her team at Designs on Property for independent information or to solve a property problem by emailing enquiries@designsonproperty.co.uk or calling 0845 838 1763.

Why not buy Kate’s Buy to Let Pack or Renters Pack both are full of checklists, forms and essential information that you need to rent or let a home successfully.  For more details contact Designs on Property by emailing enquiries@designsonproperty.co.uk or calling 0845 838 1763.